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Quick Logbook Loans in Bulwell

Enquire Online Today! - 17 Jan 2019

logbook loans Bulwell

Logbook Loans Bulwell


Your car is the answer to quick cash with Bulwell logbook loans

Bulwell logbook loan quotes

You can carry on driving your car and borrow anything up to £50,000 by lending against your vehicle. What’s more if there is no finance on your vehicle the loan can be arranged very quickly, sometimes in under a day!

Now amongst the most popular ways to secure a fast loans, Bulwell Logbook Loans are hassle-free and you don’t have to jump through hoops like other loans. If any of your previous loan applications have been unsuccessful then this might be the best solution.

Furthermore you can spend the money you borrow on anything you like... why not clear some debts, book a holiday or simply give your cashflow a boost. Logbook Loans let you access the funds you require very quickly.

Free quotes: Want to find out just how much you can borrow with a free no-obligation quote? Simply apply online today.

Accessible loans: If you have had a loan refused before you’ll be pleased to know you could well qualify with a Logbook Loan.

Keep mobile: If driving your car is important then you’ll be pleased to know that you can lend money and keep driving at the same time.

Easy online application: Applying for your Bulwell Logbook Loan quote can be done quickly and easily online, and it only takes a minute!

Your money to spend: You can spend any money borrowed however you wish, you aren’t restricted in any way. Your loan, your money.

Flexible loan periods: Whatever your borrowing requirements are there’s a good chance that a Logbook Loan will be suitable. Get in touch today to find out!

It’s really easy to apply for Bulwell Logbook Loans too, take just 60 seconds of your time to complete our online quote application form with some basic details, you’ll then hear from a loan specialist with whom you can discuss your loan requirements.

Free quotes for Bulwell Logbook Loans are just around the corner, so apply online today to see how much you can lend!

logbook loans for older cars

Are Older Cars Eligible For Logbook Loans?

If you drive an older car (8 years or older) then you will be pleased to know that you might still be able to take a loan out against it! Many other Bulwell logbook lenders will restrict the age against which they will lend, however our lenders base the loans on the value of your car. With lending amounts from £400 to £50k most cars are covered... and by simply choosing your make and model on the form above you can enquire today!

loans against classic, vintage and prestige cars in Bulwell

Classic, Vintage & Prestigious Car V5 Loans

If you own a more desirable car, be it a classic or vintage car, or even a prestigious model then the loan process still applies. You can lend against the current market value of the vehicle which makes most makes and models eligible to borrow against. So if your car takes pride of place in the Bulwell classic car club such as a Mercedes or Morgan, or it is a prestige model such as a Bentley or Rolls-Royce a V5 loan might be an option.

no credit check Bulwell logbook loans

No Credit Check Logbook Loans?

Actually, all applicants are credit checked when applying. It’s a misconception that has arisen due to the fact that V5 lending can be more accepting of people with poorer credit scores as your car is used as security during the repayment period. Being credit checked shouldn’t put you off though... if you’ve been denied a loan before you might be eligible to use your logbook to get a loan today!

loans for self employed in Nottinghamshire

Self Employed - Been Refused a Loan?

It has never been easy to get a loan for anyone that works for themselves in Bulwell as most Nottinghamshire lenders need to be sure that any income is consistent. Logbook lenders however may be more sympathetic to self-employment as your vehicle is used as collateral against the loan amount which equals far less risk to them. In order to lend responsibly, the lender will still need to be sure that you can make the repayments every month.

Bulwell business v5 loans

V5 Loans For Businesses?

The best way to determine whether you qualify for a logbook loan is to enquire with a group of lenders within a network. While not all logbook lenders work with Bulwell companies, some certainly will. As long as the vehicle you want to use as security is registered in your name, it is completely possible to take a loan against it. In fact, even if your name is in the company name, and you are the sole proprietor of that company, you may be able to take a loan on a company vehicle, too.

Example Loan Amounts From £400

The table below shows some typical borrowing examples achievable with a V5 loan. The figures are based on a loan of 80% of the current market value of your vehicle. With lending amounts from £400 up to £50,000 most lending requirements are covered:

Value of Car % Loan Loan Total
£500 80% £400
£1000 80% £800
£1500 80% £1200
£2000 80% £1600
£5000 80% £4000
£10000 80% £8000
£20000 80% £16000

Nottinghamshire Loan Calculator

Want to know how much you could borrow against your car in Bulwell? Use this handy calculator to show up to 80%.

7000
80%

£5600

Answers To Your Questions

Logbook loans are generally a very straightforward type of loan, but we’re sure you have a number of questions so have compiled answers to some of the common questions we receive from Bulwell applicants.

How do Nottinghamshire Logbook Loans work exactly?

The principal of borrowing against your car (or a V5 loan) in Nottinghamshire is very straightforward... you use the V5 document of your car as security for a loan against it. Typically you can borrow up to 80% of the car’s value and have a range or repayment durations available. An added bonus of this type of loan is that Bulwell applicants can continue to drive their vehicles throughout the loan period, an once the loan is repaid in full the V5 document is returned. V5 loans are particularly popular with those who have less than favourable credit scores.

What exactly will I need to apply?

You will need your logbook, current MOT, driver’s license or other photo ID, proof of income (bank statements or payslips), proof of insurance, and proof of Nottinghamshire residency (such as a utility bill) to successfully enquire about a loan. Although all lenders have different guidelines when it comes to approvals and some may ask you to provide additional documents, these are universal for the prevention of theft and the reduction of risk.

Are V5 Logbook Loans a good idea?

Absolutely, especially if you have had a loan refused elsewhere due to a poor credit history/score. As your car is used as security you may find that Nottinghamshire logbook lenders are more willing to lend money where other lenders might pass, which is why they are so popular throughout Bulwell. So long as you meet the loan criteria then you could be lending up to 80% of your car’s value very quickly indeed.

Can unemployed Bulwell residents still qualify for a Logbook Loan?

If you are unemployed and you have had a previous loan application declined, a loan against your vehicle could well be an option. Nottinghamshire V5 lenders may be more tolerant to people with poor credit score and to those who are unemployed. To obtain a loan, you simply need to own a car and provide proof of your ability to repay the loan. The situations of different loan applicants will always vary, therefore it’s best to get in touch directly with the lender when enquiring about a loan.

Does a poor credit score mean no loan?

If you have been refused a loan elsewhere in Nottinghamshire, a loan secured against your car might be the solution because of the easy application process and simple requirements. Although all Bulwell loan applicants are still credit checked, these loans can often be a solution for those with a poor credit score, but own a car which they can use as collateral. As responsible lenders, credit checks have to be undertaken so as to establish whether the loan is affordable. However, people with poor credit scores may still find themselves eligible to borrow.

Do I qualify if I can’t prove my income?

To qualify for Bulwell V5 loans, you need to prove to the loan lender that you can afford to make your loan repayments. Logbook lenders focus on your current ability to afford loan repayments instead of dwelling solely on a perfect credit history. If you don’t have a perfect credit score, you might still be eligible to borrow so long as you are in a position to prove that you’re able to repay your loan. That being said, it’s advisable to get in contact to discuss your particular situation. You can fill in the form above to hear directly from an advisor about the available options for you in Nottinghamshire.

During the loan, who maintains the car?

A v5 loan is a type of secured loan that is provided to you based on the value of your car. Because you are able to maintain possession of the car throughout the loan duration, it is also your responsibility to maintain it. Maintenance includes continuous insurance coverage, regular servicing, and MOT checks as required. Although your lender is aware that some additional mileage and wear and tear is possible, anything above and beyond normal depreciation should be reported to your lender immediately.

Will a Logbook Loan show on a HPI check?

Nottinghamshire lenders are required to register all loans against a car with companies such as HPI, so they should all show up (normally as a ’Bill of Sale’ agreement) on a search. If for any reason you discover a loan on your new car that didn’t show up on a HPI check then their guarantee will reimburse you up to £30,000.

How long are the repayment terms?

The length of repayment available for car v5 loans includes; 12 months, 18 months and 36 months. These repayment terms offer you adequate time so that you can make budget friendly repayments every month. The interest is charged on a monthly basis and you will not incur extra charges by paying off the loan early. In fact, it’s better to repay in advance, since by doing so, you will end up repaying much less overall in terms of monthly loan interest.

Hopefully these FAQs have answered any questions you may have regarding V5 loans. If you have any further questions then simply complete the form on this page and you’ll be put in touch with an advisor who can advise further.